Burney Co. Sells 12,289 Shares of CBRE Group, Inc. (NYSE:CBRE)

Burney Co. decreased its position in shares of CBRE Group, Inc. (NYSE:CBRE) by 81.1% during the 1st quarter, Holdings Channel reports. The institutional investor owned 2,858 shares of the financial services provider’s stock after selling 12,289 shares during the quarter. Burney Co.’s holdings in CBRE Group were worth $374,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Sowell Financial Services LLC bought a new position in CBRE Group during the 1st quarter worth $256,000. Cambridge Investment Research Advisors Inc. increased its position in CBRE Group by 21.5% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 7,404 shares of the financial services provider’s stock worth $968,000 after buying an additional 1,310 shares during the period. USA Financial Formulas bought a new position in CBRE Group during the 1st quarter worth $1,101,000. Golden State Wealth Management LLC increased its position in CBRE Group by 687.1% during the 1st quarter. Golden State Wealth Management LLC now owns 244 shares of the financial services provider’s stock worth $32,000 after buying an additional 213 shares during the period. Finally, Principal Financial Group Inc. increased its position in CBRE Group by 4.8% during the 1st quarter. Principal Financial Group Inc. now owns 7,970,004 shares of the financial services provider’s stock worth $1,042,317,000 after buying an additional 368,214 shares during the period. Institutional investors own 98.41% of the company’s stock.

Insider Activity at CBRE Group

In related news, insider Chad J. Doellinger sold 494 shares of the firm’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $126.05, for a total value of $62,268.70. Following the sale, the insider directly owned 27,945 shares of the company’s stock, valued at $3,522,467.25. This trade represents a 1.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Emma E. Giamartino sold 1,972 shares of the firm’s stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $129.10, for a total value of $254,585.20. Following the completion of the sale, the chief financial officer directly owned 105,371 shares in the company, valued at $13,603,396.10. This trade represents a 1.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,031 shares of company stock valued at $814,080 over the last ninety days. 0.42% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CBRE shares. Evercore ISI increased their price objective on CBRE Group from $143.00 to $147.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 8th. Raymond James Financial raised their price target on CBRE Group from $163.00 to $166.00 and gave the stock an “outperform” rating in a research report on Thursday. Wall Street Zen cut CBRE Group from a “buy” rating to a “hold” rating in a research report on Saturday, June 14th. JPMorgan Chase & Co. decreased their price target on CBRE Group from $163.00 to $141.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. Finally, UBS Group raised their price target on CBRE Group from $130.00 to $146.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 2nd. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $156.11.

CBRE Group Stock Performance

NYSE:CBRE opened at $147.66 on Friday. The stock’s 50-day simple moving average is $134.47 and its 200 day simple moving average is $132.26. The firm has a market capitalization of $44.02 billion, a PE ratio of 45.16 and a beta of 1.30. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.37. CBRE Group, Inc. has a twelve month low of $105.17 and a twelve month high of $147.98.

CBRE Group (NYSE:CBRE) last released its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.05. The business had revenue of $8.91 billion for the quarter, compared to analyst estimates of $8.73 billion. CBRE Group had a return on equity of 17.37% and a net margin of 2.74%. CBRE Group’s revenue was up 12.3% compared to the same quarter last year. During the same period last year, the firm posted $0.78 earnings per share. On average, analysts anticipate that CBRE Group, Inc. will post 5.99 EPS for the current fiscal year.

CBRE Group Company Profile

CBRE Group, Inc operates as a commercial real estate services and investment company in the United States, the United Kingdom, and internationally. The Advisory Services segment offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing of offices, and industrial and retail space; clients fully integrated property sales services under the CBRE Capital Markets brand; clients commercial mortgage and structured financing services; originates and sells commercial mortgage loans; property management services, such as marketing, building engineering, accounting, and financial services on a contractual basis for owners of and investors in office, industrial, and retail properties; and valuation services that include market value appraisals, litigation support, discounted cash flow analyses, and feasibility studies, as well as consulting services, such as property condition reports, hotel advisory, and environmental consulting.